CLOSING BELL

Dow 9974.45  -69.30, Nasdaq 2195.88  -15.07, S&P 1067.98  -6.08 

With bargains to be had the bulls were motivated to buy this morning.  The S&P 500had a broad-based gains that put it up almost +5% from yesterdays low. Despite the buying strength, stocks lacked a leadership which allowed the bears to come into the market later in the day to erase the gains.

Trading volume on the NYSE was close to 2 billion shares today. Typical trading volume on the NYSE has been closer to 1.2 billion shares per session over the past 200 sessions.

In Economic data total durable goods orders for April can in higher than expected, but orders less transportation missed expectations.

New home sales for April rose more-than-expected to an annualized rate of 504,000 units, the highest level in two years.

Walt Disney (DIS) 33.07 +0.75, +2.32% shares are higher today on news that the company has been in negotiations with two private equity firms to sell ABC, Disney has denied the report.  The news came out when the FBI arrested a Disney employee and her boyfriend for trying to sell insider information.

Advancing Sectors: Industrials +0.3%
Declining Sectors: Telecom -1.2%, Tech -1.1%, Consumer Staples -0.9%, Materials -0.8%, Financials -0.6%, Health Care -0.6%, Energy -0.3%, Consumer Discretionary -0.3%, Utilities -0.2%